93 Tennyson Street, ELWOOD

BOUGHT* - $2,435,000

Citing a recent article in 'The Age' Newspaper, Auctioneer Matt White discussed the high walkability score and the development flexibility to the crowd of 35 people gathered in the paved front yard. Bidder 1 wasted no time, opening with a lean bid of $1,700,000. Mr White quickly responded with a vendor bid of $2,000,000 and asked for bids of $20,000. When met with silence, Mr White encouraged the crowd to get involved and to 'splash some cash'. Bidder 1 offered a further $10,000 and with no further bids, Mr White stepped inside. The crowd chatted amicably during the long break and we wondered if there was time to dash across the road for coffee. Upon his return, Mr White announced that the price was close to the reserve and with no more bids, began to count it down to pass the property in. On the last call, a slickly dressed second bidder added $10,000. The bidding then rose slowly with Bidder 1, apparently doing complex equations, making slow and considered bids while Bidder 2, front and centre, quickly responded. With interjections as to whether the property was yet on the market, Mr White again sought advice from the vendor inside. Mr White returned and declared that at $2,250,000, the property was on the market. Both Bidder 1 and 2 were now taking their time, with each one shaking their head and then offering a bid at the last minute. At one point Mr White accepted a bid of $1000, stating that ‘if bids continued at that level he would be selling the property brick by brick.’ At $2,425,000, Bidder 1 had control and Bidder 2 turned away to make a call. As Mr White began to count down to Bidder 1, Bidder 3 called out a bid of $10,000 and with a successful fist pump, purchased the house for $4,350,000. But wait, Bidder 3 didn’t want to sign the papers. There was some confusion as Bidder 2 stepped forth to sign the contract. It seemed Bidders 2 and 3 were together.

3

Auction Date/Time:

Saturday 27 May 2017, 12:00 PM

Auctioneer:

Matt White, Ray White - Port Phillip

Sales Agent:

Matt White, Ray White - Port Phillip

Opening Bid:

$1,700,000

On Market:

$2,200,000

Bought:

Under Hammer

Bidders:

3

Crowd Numbers:

40

Auction Vibe:

Expected/Normal

Auction reviewed by:

Kathy Russell

The difference between a good and a bad advocate? Happiness.

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Your attention to detail and commitment to helping us find the right property were tremendous . Dear Gina and Adam,
We just wanted to say a huge THANK YOU to you both (and Mal) for helping us purchase ?? We love the house and can't wait to move in.
Thank you for making the entire process so much easier and enjoyable. Your attention to detail and commitment to helping us find the right property were tremendous and greatly...